Owning Deals vs. Investing Through Operators

[Joshua Patrick]

Curious where everyone stands on this.

I've always been in the mindset that if I'm investing in real estate, I want to own the deal, control the decisions, and be hands-on.

Lately, though, I've been meeting more investors who'd rather put capital behind experienced operators than manage projects themselves.

I can see both sides.

Owning your own deals gives you control.

Investing alongside the right operator can give you access to bigger projects without all the day-to-day work.

For those of you who've done both...

Which do you prefer and why?

If you invest with operators, what are the biggest things you look for before wiring money?

Track record?
Communication?
Alignment?
Skin in the game?

Curious to hear everyone's perspective.

[Chris Seveney]

I do both. But what I look for in someone I invest in is someone who will take my call at 8pm or on a Sunday if there are issues. Those who do that are typically professional, have a good track record (but things can always go sideways) and have weathered storms in the past.